Home Equity Loans and Home Equity Lines of Credit
| Loan Type | For members who | Benefits | Fees |
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Home Equity Loan 5 Year fixed |
Want to borrow a set amount of cash from the equity built up in their home. |
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Home Equity Line of Credit Intro rate 2.99% APR2
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Want a flexible source of cash that can be accessed when needed
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1&2Annual Percentage Rate (APR) subject to change at any time based on the Prime Rate as disclosed in Wall Street Journal as the of the 25th of the previous month. HELOC is a variable-rate line of credit secured by primary residences located in NJ, PA and MD with up to 70% combined loang to calue (CLTV) ratio for well qualified applicants. Minimum loan amount of $10,000. Annual Percentage Rate (APR) after the initial 18 months on the line of credit is as low as Prime + 0%. After the introductory period the rate will never go below 3.75% APR. In order to receive promotional offer , direct deposit or automatic payment from a First Atlantic deposit account is required. Promotional rates are for new borrowers or loans. Additional conditions may apply.
3For tax deductibility consult your tax advisor to determine if the interest is tax deductible.
*A $350 processing fee is waived at the time the loan closes. If the loan is paid off within 2 years, this processing fee will be added to the amount required to satisfy the loan.
